KUALA LUMPUR – Shell’s unit Shell Malaysia said that it has agreed with its partners Petronas Carigali and ConocoPhillips Sabah to develop a deepwater oil field offshore Sabah state. The three companies have taken a "final investment decision" to develop the Malikai field, which was awarded by Petronas, in 1995, Shell Malaysia said in a statement.

Shell and ConocoPhillips each own 35% in the project while Petronas owns the rest.